[2018-06-07] South Africa’s Central Bank Flourished in Blockchain Payment Trail

[Vladdirescu87]

The Central Bank of South Africa disclosed flabbergasting outcomes on Tuesday for a particular trial of its blockchain-based system for interbank clearance and settlement.

South Africa Reserve Bank (SARB) noted that it has fully finished a 14-week accurate proof-of-concept that successfully managed to sort out the country's expected 70,000 daily payment transactions in a period of two hours taking an average of 1-2 seconds to create and generate each particular block while maintaining maximum anonymity.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/south-africa-central-bank-flourished-in-blockchain/

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[Kakmakr]

Wow, while other governments are still trying to define Crypto currencies, South Africa took the lead by already developing inter Bank payment rails, based on Blockchain technologies. By the looks of this, Ethereum is going to be the backbone of this system. I would have hoped that they would be going for the more mainstream currency, Bitcoin. 

Oh, Well.. It is a good starting point and a good sign that they are not completely apposed to the Crypto currency ideas.